We appreciate your interest in obtaining commercial financing through Neuse River Development Authority, Inc.  (NRDA).  The first step in applying for a loan is to fill out our pre-application or call us at (252) 638-6724 for an initial screening.  As part of the pre-application review process, we will run a credit report on each person who will own 20% or more of the business and on each spouse.

The following items are required to begin the review process:

1. NRDA Loan Pre-Application
2. Credit Authorization Form, provided as part of the pre-application
3. Legible copy of each applicant's/guarantor's driver license
4. Check or money order for a Credit Bureau Personal Credit Report

NOTE:  Your application will not be reviewed prior to receipt of the $35.00 credit report fee (per applicant/guarantor).

Once it has been determined that your project is eligible, then additional information and fees will be required.  The second step in the loan process will be to complete a NRDA loan application.  The following documents will be required in order to screen your application:

1. Completed NRDA loan application and a short business plan.  The plan should include a description of the business, resumes or background statements on owners, the number of projected and current employees and a breakdown of the project expenses and loan request.

2. A personal financial statement and tax returns for the most recent three years on each guarantor and on each person who will own 19% or more of the company  (Please us a bank for or NRDA's form for the financial statements.)

3. Three years tax returns or CPA balance sheet and income statements on the company.  If you plan to purchase an existing business, please submit three years tax return and interim financial statements on the business to be purchased.

4. CPA prepared interim balance sheet and income statements current within 45 days of application.

5. If an applicant owns more that 19% of another company, then please submit three years tax returns and financial statement along with an interim balance sheet and income statement on the affiliate company.

If your loan is approved, additional fees that will be due at commitment include a commitment fee, a non-refundable documentation fee and a deposit for legal fees. 
If the loan does not close, the commitment fee and any unexpended legal fees are refundable.

Please submit all necessary documents and fees to NRDA in person or by mail.